In a report released today, Pavel Molchanov from Raymond James maintained a Buy rating on Livent (LTHM). The company’s shares closed last Tuesday at $15.26, close to its 52-week high of $15.72.
According to TipRanks.com, Molchanov is a 5-star analyst with an average return of 9.2% and a 59.2% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Maxeon Solar Technologies, and Nextera Energy Partners.
Currently, the analyst consensus on Livent is a Hold with an average price target of $10.90, representing a -27.5% downside. In a report issued on November 9, Citigroup also upgraded the stock to Buy with a $16.50 price target.
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Based on Livent’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $72.6 million and GAAP net loss of $11.8 million. In comparison, last year the company earned revenue of $97.7 million and had a net profit of $18 million.
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Livent Corp. engages in the production of performance lithium compounds. It specializes in battery-grade lithium hydroxide, butyllithium, and purity lithium metal which are used in various performance applications. It operates through the following geographical segments: North America; Europe, Middle East, and Africa; Latin America; and Asia Pacific. The company is headquartered in Philadelphia, PA.
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